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Keyword: oil

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  • The Airport That Feeds the Oil Boom: The Fastest Growing Airports Are in North Dakota

    07/31/2014 7:18:29 AM PDT · by SeekAndFind · 3 replies
    Wall Street Journal ^ | 07/31/2014 | Scott McCartney
    A double-wide mobile-home trailer that used to serve as an elementary-school classroom is now the airport terminal. A conference room is the Hertz rental counter. And there is no baggage carousel, just a small counter where baggage workers pile luggage. Sloulin Field International Airport here wasn't built to be one of the fastest-growing airports in the world, but it is now. Traffic last year was 254% higher than just two years earlier. Airlines fly in with jets weighing twice as much as what the runway was built for. And when the parking lot is full, cars are left in ditches...
  • We Could Unlock More Than 267 Billion Barrels of Oil in America

    07/30/2014 6:51:03 PM PDT · by ckilmer · 36 replies
    fool.com ^ | July 30, 2014 | Tyler Crowe
    We Could Unlock More Than 267 Billion Barrels of Oil in America By Tyler Crowe | More Articles | Save For Later July 30, 2014 | Comments (0) Photo credit: WPX Energy If I had told you five or six years ago that America would be producing more oil than ever before and potentially becoming an exporter of crude within a decade, you probably would have had me institutionalized. Yet thanks to the advancements in drilling techniques, we have been able to access one of the most abundant resources we didn't think were possible: shale and tight oil. Today, oil...
  • Experts Estimate Isis Is Making Up To $3 Million A Day Selling Oil From Captured Fields

    07/30/2014 1:48:57 PM PDT · by lowbridge · 18 replies
    breitbart ^ | july 29, 2014 | frances martel
    The terrorist group Islamic State, formerly the Islamic State of Iraq and al-Sham (ISIS), could be making up to $3 million a day in illicit oil sales using captured oil fields in Iraq and Syria. Iraqi officials are warning that the jihadists are selling their own oil in ISIS-controlled areas and shipping it out to shady buyers in nearby countries. According to NBC, the Islamic State – which is attempting to transition from terrorist group to, precisely, a state – has begun to sell gas from oil fields and wells it has acquired at gas stations in Mosul, the second-largest city in...
  • Judge says US can't seize tanker full of Kurdish oil off Texas coast

    07/30/2014 8:17:26 AM PDT · by afraidfortherepublic · 28 replies
    Fox News ^ | 7-30-14
    A federal magistrate judge ruled Tuesday that U.S. Marshals will not be able to able to carry out her earlier order to seize a million barrels of Kurdish crude oil unless the tanker carrying the cargo comes closer to the Texas shore. The Wall Street Journal reported that federal magistrate judge Nancy Johnson said that the United Kalavrvta tanker was not within the boundaries of the state or the court's authority. She also said that the matter of who owned the oil should be decided in Iraq, not the United States. "Seems to me this is not a matter for...
  • BP and Shell: Are we on the cusp of the oil mega mergers?

    07/29/2014 3:01:04 PM PDT · by Lorianne · 3 replies
    Telegraph (UK) ^ | 26 July 2014 | Ben Marlow
    A slump in profits could reignite a flurry of deal-making and see a return to mergers of the big oil companies ___ Ten years ago, Lord Browne, the then chief executive of BP, flew to Williamsburg, Virginia, for a board meeting, where he planned to outline detailed proposals for a mega-merger with Royal Dutch Shell. The radical tie-up had been discussed in secret weeks earlier with Jeroen van Der Veer, his counterpart at Shell, during a stroll around Lake Como in Italy. With an estimated $9bn (£5.3bn) of synergies from the deal and Browne’s conviction that he had the backing...
  • Ouray County Adopts a Road Map for the 21st Century ( Colorado - RS 2477 )

    07/28/2014 10:54:48 AM PDT · by george76 · 19 replies
    The Watch ^ | 07/24/14 | Samantha Wright
    Despite an eleventh hour interjection from the U.S. Forest Service, the Ouray County Commissioners made history this week, unanimously voting to adopt a new county road map that brings it into the 21st century. The last time an official county road map was prepared in Ouray County was in 1961. Proposed revisions to this 1961 iteration of the map took place over the past five years, first through the work of the collaborative, multi-jurisdictional Public Access Group and later through two years of intensive work by Ouray County IT/GIS Manager Jeff Bockes, who integrated modern computerized mapping techniques (including GoogleEarth)...
  • Judge rules largely in favor of Utah on rural roads dispute ( RS 2477 )

    07/28/2014 11:12:06 AM PDT · by george76 · 16 replies
    The Salt Lake Tribune ^ | March 22, 2013 | Brooke Adams
    A federal judge handed a landmark victory to Kane County and the state of Utah on Wednesday in a years-long dispute with the federal government over whether some rural routes should remain in use as roads, or if they should be closed to the public. In two decisions, U.S. District Judge Clark Waddoups found he had jurisdiction to hear Kane County's claim, gave parameters for "reasonable" right-of-way widths on some routes and determined that 12 of 15 routes in dispute were roads and therefore accessible by the public. The distinction hinged on an 1866 law through which Congress sought to...
  • Faith and Free Market Expelled from Iraq’s Garden of Eden (global oil market risks destabilization)

    07/26/2014 4:16:54 PM PDT · by NYer · 6 replies
    Acton Institute ^ | July 25, 2014 | JACQUELINE DERKS
    As reported by the Wall Street Journal, Iraq’s largest oil refinery for domestic use has been overtaken by the Islamic State of Iraq and Syria (ISIS), the radical jihadi terrorist group aiming to establish an Islamic caliphate in these two nations. As Iraq’s most lucrative resource is now siphoned off by a radical organization, the global oil market risks destabilization while financially empowering ISIS. Economic stability facilitates greater religious freedom – establishing an ISIS controlled government as detrimental to Iraq’s advances toward a stable and secular democratic state. The Christian population has been a primary target of this fundamentalist movement,...
  • Former Gov. Sarah Palin weighs in on Alaska's current oil tax debate

    07/23/2014 7:07:00 AM PDT · by Cringing Negativism Network · 11 replies
    Alaska Dispach News ^ | July 22, 2014 | Laurel Andrews
    Former Alaska Gov. Sarah Palin said in a phone interview with Alaska Dispatch News on Tuesday that she plans to speak out against oil company-funded efforts to maintain the oil tax structure put in place in January. “I don’t want Alaskans to be deceived,” she said.
  • Administration to unveil stricter rules for carrying crude by rail

    07/23/2014 6:21:51 AM PDT · by Cincinatus' Wife · 17 replies
    The Hill ^ | July 23, 2014 | Laura Barron-Lopez
    The Obama administration will unveil new rules Wednesday proposing more stringent safety standards on trains carrying crude oil and other flammable fuels. Transportation Secretary Anthony Foxx is expected to announced the new rules, which will include standards for tank cars, speed limits for trains carrying crude oil, brake standards and testing for oil and other flammable liquids, according to a Wall Street Journal report. A Department of Transportation spokesperson confirmed to The Hill that the announcement will be made Wednesday. The federal rules have been anxiously awaited by the railroad and oil industries, which have met with White House and...
  • Obama Administration Ignores Reporting Law as Prairie Chicken Population Increases

    07/23/2014 5:58:03 AM PDT · by george76 · 15 replies
    Colorado Observer ^ | July 22, 2014 | Audrey Hudson
    A new study shows the lesser prairie chicken population has exploded by 20 percent prompting concern by western lawmakers that the Obama administration acted hastily when it listed the bird as threatened under the Endangered Species Act. The aerial survey conducted last month by the Western Association of Fish and Wildlife Agencies showed the grouse species numbers jumped from 18,747 to 22,415. That study plus the Agriculture Department’s tardiness in reporting conservation efforts to Congress as required by law prompted a letter from lawmakers including Colorado Republican Rep. Scott Tipton demanding the report. “We request that your department provide this...
  • Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

    07/21/2014 6:54:24 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 21, 2014 | Balazs Koranyi and Gwladys Fouche
    An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft. The journey has begun just as the United States has slapped the toughest sanctions yet on Russia, including on Rosneft, over escalating violence in Ukraine. Further sanctions are likely after the...
  • Recent improvements in petroleum trade balance mitigate U.S. trade deficit

    07/21/2014 5:28:31 AM PDT · by thackney · 3 replies
    Energy Information Administration ^ | JULY 21, 2014 | Energy Information Administration
    Since the mid-1970s, the United States has run a deficit in merchandise trade, meaning that payments for imports exceeded receipts for exports. This large and growing deficit on the merchandise trade balance reached a maximum of $883 billion in the second quarter of 2008. As a result of the recession, dramatic declines of imports in excess of exports during the fourth quarter of 2008 and the first quarter of 2009 reduced the merchandise trade deficit by 49%, to $449 billion in the second quarter of 2009. This trend of declining imports resulted in the lowest quarterly deficit level since early...
  • The Stunning Key That Could Unlock 160 Billion Barrels of Oil Trapped Underneath America

    07/20/2014 1:42:44 PM PDT · by ckilmer · 69 replies
    fool.com ^ | July 20, 2014 | By Matt DiLallo
    The Stunning Key That Could Unlock 160 Billion Barrels of Oil Trapped Underneath America By Matt DiLallo | More Articles July 20, 2014 | Comments (0)  Photo credit: Flickr/Melissa  It is estimated that there are 160 billion barrels of oil still trapped underneath this country in what are considered depleted oil fields. That's a tremendous amount of oil given that America uses about seven billion barrels of it each year. In fact, if we could only find the key to unlock this trapped oil we could extend fleeting our reserves by more than 22 years.That's why it probably comes as a surprise...
  • Charts and maps of America’s Amazing Shale Oil Revolution;

    07/19/2014 3:11:31 PM PDT · by ckilmer · 25 replies
    aei-ideas ^ | July 15th, 2014 | Mark J. Perry |
    Charts and maps of America’s Amazing Shale Oil Revolution; and the new ‘Big Three’: Bakken, Eagle Ford and Permian Mark J. Perry | July 15th, 2014   Skip to Responses     Below are four charts and two maps that help tell the story of America’s Amazing Shale Oil Revolution:1. The Big Three. Yesterday, the Department of Energy’s Energy Information Administration (EIA) updated its monthly “Drilling Productivity Report” with new estimates of oil production through August in America’s three, super-giant oil fields, the “Big Three”: the Bakken in North Dakota and Eagle Ford Shale and Permian Basin in Texas. As...
  • Obama Approves Sonic Cannons, Reopening Oil Exploration Off US Eastern Shore(What's His Game Plan?)

    07/18/2014 1:54:58 PM PDT · by lbryce · 14 replies
    AP ^ | July 18, 2014 | JASON DEAREN
    Opening the Eastern Seaboard to offshore oil exploration for the first time in decades, the Obama administration on Friday approved the use of sonic cannons to discover deposits under the ocean floor by shooting sound waves 100 times louder than a jet engine through waters shared by endangered whales and turtles. The U.S. Bureau of Ocean Energy Management's approval of this technology is the first step toward identifying new oil and gas deposits in federal waters from Florida to Delaware
  • Feds OK first-in-decades oil studies off East Coast

    07/18/2014 11:21:43 AM PDT · by thackney · 17 replies
    Fuel Fix ^ | July 18, 2014 | Jennifer A. Dlouhy
    The Obama administration on Friday gave the oil industry the green light to use air guns and sonic sensors to search for possible oil and gas under Atlantic waters, overriding environmentalists concerned that the seismic research can harm whales and other marine life. Although geophysical research companies will still have to apply for individual permits to conduct seismic studies along the south- and mid-Atlantic coast — and undergo more rigorous environmental scrutiny of their specific plans — the Interior Department’s formal decision opens the door for the activity. Friday’s move also helps pave the way for possible drilling off the...
  • BLM: More money needed for inspections

    07/18/2014 7:30:16 AM PDT · by george76 · 24 replies
    Albuquerque Business First ^ | Jul 18, 2014 | Gary Gerew
    Bureau of Land Management Director Neil Kornze said that increased drilling and a shortage of staff are behind his agency’s request for a fee system to increase the agency’s inspection capacity. ... BLM is focused on a range of inspections, including drilling and production inspections. ... Irregular and declining budgets have hindered our ability to move out aggressively in this area. Through the President’s 2015 budget proposal, we are now seeking to fund inspections through a fee system that will allow us to be much more responsive to the needs of industry and, importantly, to meet the foundational safety and...
  • Revisiting Kurdistan: 'If there is a success story in Iraq, it's here'

    07/17/2014 9:39:56 PM PDT · by blueplum · 5 replies
    The Guardian ^ | July 16, 2014 | Luke Harding
    In 2003, before the US invasion of Iraq, Luke Harding found the Kurds full of defiance and hope. Returning 11 years later – with Baghdad's hold on power crumbling – he finds a self-confident region transformed by oil money The news from Iraq has been grim of late. Sectarian killings, political feuding and the flamboyant rise of Islamist fanaticism. :snip: One part of Iraq, however, has largely escaped the mayhem engulfing the rest of the country. It is Kurdistan, the autonomous Kurdish region of northern Iraq. Its capital, Irbil, is a haven of religious tolerance and relative safety. The suburb...
  • Iraqi Kurds begin oil pumping from Kirkuk

    07/17/2014 10:31:35 AM PDT · by DeaconBenjamin · 9 replies
    Iraq’s autonomous Kurdish region has begun to pump oil from Kirkuk fields previously controlled by Iraq’s central government into the pipeline system that runs in its own territory, a senior Iraqi oil official said on July 17. Kirkuk lies on the disputed boundary between the northern Kurdish region and the rest of Iraq and is at the heart of a long-running dispute between Baghdad and Arbil, the Kurdish regional capital, over territory and natural resources. Kurdish forces took control of production facilities at the Kirkuk and Bai Hassan northern fields on July 11, exploiting a power vacuum created by an...
  • Kemp: Peak Petroleum Engineer? Or Still Time to Join the Boom?

    07/17/2014 4:58:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 17, 2014 | John Kemp
    Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013. Petroleum engineers earned almost four times as much as the average employee across the economy, who was on...
  • Looking For The Next Oil Boom? Follow The Tech

    07/16/2014 4:02:08 PM PDT · by ckilmer · 12 replies
    seekingalpha ^ | Jul. 16, 2014 10:16 AM ET
    Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero.
  • Voters should not make engineering decisions

    07/16/2014 11:20:36 AM PDT · by thackney · 19 replies
    Houston Chronicle ^ | July 16, 2014 | Chris Tomlinson
    Denton late Tuesday night became the latest jurisdiction to announce a referendum on a drilling technique, joining Colorado and New York in allowing voters to decide where hydraulic fracturing for oil and gas may take place. This a deeply worrying trend that mixes misinformation with a not-in-my-backyard attitude that too often ignores science, engineering and the nation's need for energy. In many ways, though, the drilling companies and state regulators have themselves to blame for public outrage by failing to quickly and transparently address the concerns of local residents. First, let me say I've spoken to a lot of people...
  • Union Bashing 'Big Oil' Has Pensions Invested In Exxon and Chevron

    07/16/2014 8:25:36 AM PDT · by MichCapCon · 2 replies
    Capitol Confidential ^ | 7/13/2014 | Manny Lopez
    Listen to the Michigan Education Association and you would think that anyone who dares talk to teachers about their rights is trying to destroy education in America. To some extent, the rhetoric is expected. Changes to the status quo in education mean that unions lose their stranglehold on the tax dollars they’ve become accustomed to getting with little accountability. The MEA does not like that the Mackinac Center for Public Policy is informing teachers of their rights under Michigan's right-to-work law. Teachers who belong to the MEA but do not want to support the union for any variety of reasons...
  • China Removes Contentious Oil Rig From Waters Claimed by Vietnam

    07/16/2014 5:47:29 AM PDT · by Cringing Negativism Network · 6 replies
    Time ^ | 4:40 AM 7/16 | David Stout
    On Tuesday, the state-backed China Oilfield Services Limited said the billion-dollar platform, which had been drilling in the heart of highly contested waters claimed by Vietnam, had “precisely extracted the related geological data as planned” and was being redeployed to sea blocks off China’s Hainan Island. (Please see full article at link)
  • Enhanced oil recovery techniques limited in shale

    07/16/2014 5:26:14 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | July 15, 2014 | Jennifer A. Dlouhy
    Energy companies currently leave about 95 percent of the crude in the ground at today’s unconventional oil wells, but they face major technological challenges in boosting recovery rates, a Schlumberger scientist said Tuesday. Robert Kleinberg, a fellow with the oilfield services firm, bemoaned the current 5 percent recovery factor at tight oil wells, where crude is pulled from the pores of extremely dense rock formations. Geologists and engineers are actively looking for ways to boost the figure, but traditional methods applied at more conventional oil wells — such as pumping steam underground and flooding the formations with water — don’t...
  • Looking for the Next Oil Boom? Follow the Tech

    07/15/2014 11:36:04 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 15/07/2014 | James Stafford
    Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero. Determining where the next real oil boom will be depends largely on following the technology, and while the Permian Basin has been slower than others to switch from vertical well drilling to horizontal drilling, horizontal has now outpaced vertical, and investors are lining up to get in on the game. Until about 12 years...
  • Oil Production in the Bakken Reaches New Record

    07/15/2014 6:55:57 AM PDT · by SeekAndFind · 10 replies
    American Thinker ^ | 07/15/2014 | Sierra Rayne
    With the release of the latest oil production data for the Bakken in North Dakota, this tight oil play reached a new record of 975,000 barrels per day in May.  This represents an increase of almost 37,000 barrels per day from the previous month, and is the largest April-May increase on record.  Daily oil per well remains stable at 127 barrels, down only slightly from the May 2013 value of 130. Overall production for North Dakota was also up in May to a new record of 1.04 million barrels per day, with daily oil per well steady at 99 barrels....
  • World View: Australia Joins Japan, Vietnam, Philippines in Opposing China

    07/13/2014 12:32:13 AM PDT · by 2ndDivisionVet · 5 replies
    Breitbart's Big Peace ^ | July 11, 2014 | John J. Xenakis
    ---snip--- Japan, Vietnam and the Philippines have been forming an alliance against China, as China has been moving to annex other countries' territories in the South and East China Seas. Relations between Vietnam and China have become particularly hostile since China deployed an oil rig in Vietnam's exclusive economic zone (EEZ). (See "China's neighbors react to new South China Sea claims" from last week.) Now Australia is signaling that it is also joining this alliance. The change in policy was indicated in a statement by Australia's foreign minister, Julie Bishop, during a visit by Japan's prime minister Shinzo Abe to...
  • Russia's Rosneft to explore for offshore oil in Cuba, Putin says

    07/12/2014 10:03:29 AM PDT · by tcrlaf · 7 replies
    Reuters ^ | 7-11-2014 | Reuters
    Russian President Vladimir Putin said on Friday he was hopeful Russian oil company Rosneft and Cuban state oil company Cupet could begin jointly exploring Cuba's potential offshore oil reserves "in the very near future."
  • Houston pay tops nation on oil, gas strength

    07/11/2014 5:06:41 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | July 10, 2014 | Collin Eaton
    Houston outpaced every city in the nation in annual wage growth during the second quarter, thanks largely to a bump in oil and gas-industry pay, according to PayScale. The Seattle-based pay tracker said the city’s 3 percent rise in annual wages beat the national average of 1.8 percent from April to June. That’s the second consecutive quarter that Houston wage-earners beat the national average, after a sluggish 2013 that saw pay in the energy capital flatten. (Average wage earners weren’t the only ones who had flat paydays last year: Some compensation packages for the chief executives of oil and gas...
  • WATER POLICY: EPA chief reaches out to farmers on muddled rule proposal

    07/10/2014 8:43:48 PM PDT · by george76 · 5 replies
    E&E ^ | July 9, 2014 | Annie Snider
    COLUMBIA, Mo. -- The Obama administration's attempt to assuage farmers' and ranchers' fears about a major Clean Water Act proposal has drawn flak from all corners, forcing the U.S. EPA administrator herself to concede yesterday that there are "legitimate concerns" with the effort. At issue is the interpretive rule for agriculture that the Obama administration released in March in tandem with a major proposal to increase the number of streams and wetlands that receive automatic Clean Water Act protection following years of regulatory uncertainty. Administrator Gina McCarthy said on a call with reporters yesterday that the interpretive rule was intended...
  • EDITORIAL: Sage-grouse politics

    07/10/2014 8:32:40 PM PDT · by george76 · 8 replies
    The fate of a chicken-size bird carries huge economic and political stakes across the West. The sage grouse, long a threat to the thriving energy sector, is also a threat to Senate Majority Leader Harry Reid. The ground-dwelling bird, which has habitat across Nevada and 10 other states, could be listed as a threatened or endangered species as soon as next year. Such a designation would place burdensome restrictions on the use of tens of millions of acres by ranchers, farmers, and oil and natural gas producers. Environmental organizations that want a halt to ranching and fossil fuel development are...
  • Seven Facts for Fracking Deniers

    07/10/2014 6:38:56 AM PDT · by rktman · 19 replies
    americanthinker.com ^ | 7/10/2014 | Jeffrey Folks
    At a recent town hall meeting in Edmond, Oklahoma, local citizens gathered to discuss the possible connection between fracking and increased seismic activity in their area. According to one published report, members of the audience left “disappointed” that no consensus had been reached linking fracking and seismic activity. According to the same report, many in the audience appeared to be “hostile to the oil and gas industry.” Even in this most oil-friendly of states, it seems, there is a rush to judgment linking fracking to every conceivable sort of damage.
  • Leaked paper: EU wants ‘guaranteed’ access to US oil and gas

    07/09/2014 11:07:29 PM PDT · by Olog-hai · 20 replies
    EU Observer ^ | 07/09/14 @ 09:27 | Benjamin Fox
    The EU wants the US to lift its restrictions on exporting gas and crude oil as part of ongoing trade talks, according to a leaked European Commission document. The strategy paper by the EU executive, obtained by the Washington Post, calls for “a legally binding commitment … guaranteeing the free export of crude oil and gas resources”. EU and US trade officials will hold their sixth round of talks on an ambitious Transatlantic Trade and Investment Partnership (TTIP) in Brussels next week, which officials argue could be worth €100 billion per year, equivalent to an additional 0.5 percent of EU...
  • Six formations are responsible for surge in Permian Basin crude oil production

    07/09/2014 7:30:55 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | JULY 9, 2014 | Energy Information Administration
    The Permian Basin in Texas and New Mexico is the nation's most prolific oil producing area. Six formations within the basin have provided the bulk of Permian's 60% increase in oil output since 2007. Crude oil production in the Permian Basin has increased from a low point of 850,000 barrels per day (bbl/d) in 2007 to 1,350,000 bbl/d in 2013. Largely as a result of this growth, crude oil production from Permian Basin counties has exceeded production from the federal offshore Gulf of Mexico region since March 2013, making the Permian the largest crude oil producing region in the United...
  • Tomgram: Michael Klare, Fighting for Oil

    07/09/2014 5:31:49 AM PDT · by thackney · 4 replies
    TomDispatch.com ^ | July 8, 2014 | Michael Klare
    Call it a double whammy for the planet or simply irony with a capital “I.” As the invaluable Michael Klare, TomDispatch regular and author of The Race for What’s Left, points out today, if you scan the planet for conflict, what you’ll find from Syria and Iraq to the South China Sea are a series of energy wars -- fossil-fuel conflicts to be exact. At present, despite some hopeful signs, this crazed planet of ours is still a ravenous beast that only fossil fuels can sate. No question that conflicts and wars are terrible things. Just consider the million new...
  • Texas and North Dakota together now produce almost 50% of US oil, No. 5 globally

    07/07/2014 9:24:14 AM PDT · by SeekAndFind · 12 replies
    The chart above helps to illustrate how significantly US oil production has been impacted by the revolutionary drilling technologies of hydraulic fracturing and horizontal drilling, which have unlocked a bonanza of shale oil in the states of Texas and North Dakota. A decade ago, the combined conventional crude oil production in the states of Texas and North Dakota was only 1.165 million barrels per day (bpd), and represented less than 21% of total US crude oil output. By 2008, in the very early days of the US shale oil revolution, the newly tapped oil from deep shale rock formations...
  • Oil industry's wastewater wells blamed for triggering Oklahoma quakes [liberal lies]

    07/04/2014 8:32:02 PM PDT · by re_nortex · 10 replies
    Fortune ^ | July 3, 2014, 2:06 PM EDT | Michael Casey
    ...the study provides the strongest evidence yet that the upsurge quakes in the past decade across Central and mid-America is at least partially to be blamed on humans. More than 300 earthquakes have occurred from 2010 to 2012 compared to an average rate of 21 every year from 1967 to 2000, according to the U.S. Geological Survey. Most have ranged from 2.0 to 3.6 on the Richter scale but there have been exceptions, including a 5.6 event in central Oklahoma in November 2011 that destroyed 14 homes and injured two people.
  • How Low Can You Go? Oil Well Downhole Camera [Video]

    07/03/2014 9:25:20 AM PDT · by thackney · 12 replies
    Oil Pro ^ | July 3, 2014 | Stephen Peterson
    A very interesting video, detailing what drillers can see, identify and diagnose using a downhole camera. https://www.youtube.com/watch?v=ZzDrheWDhGw
  • Mexico's Pemex to Spend $6B to Maintain Output at Cantarell

    07/03/2014 6:13:56 AM PDT · by thackney · 3 replies
    Rig Zone ^ | July 1, 2014 | Reuters
    Mexico's state-run oil company Pemex will launch a $6 billion investment in 2017 aimed at maintaining current levels of production at its once-supergiant Cantarell field over the next decade, a Pemex official said on Tuesday. Discovered in 1976, output from the offshore Cantarell field once supplied over 2 million barrels per day (bpd), or more than half of Mexico's total crude production. But output at the field has fallen more than 80 percent since 2004 to hover around 340,000 barrels per day (bpd). The investment will counteract the natural decline of Cantarell by squeezing out an additional 100,000 bpd per...
  • New ND Flaring Regs Make Statoil's Nat Gas Container System Timely

    07/03/2014 5:45:05 AM PDT · by thackney · 18 replies
    Fuel Fix ^ | July 02, 2014 | Gene Lockard
    Statoil ASA recently announced a container system to reduce flaring in the Bakken. The company’s timing could not have been better, considering that North Dakota just approved new flaring regulations. More restrictive regulations covering flaring on existing wells were passed by the North Dakota Industrial Commission – the state’s regulating entity for oil and gas – July 1. The goal of the commission is to reduce flaring to 26 percent by the fourth quarter of 2014, 23 percent by the first quarter of 2016, and 10 percent – with the potential of 5 percent – by the fourth quarter of...
  • BP: The world has 53.3 years of oil left

    07/02/2014 6:22:50 AM PDT · by ckilmer · 41 replies
    fool ^ | 8:49 AM, July 1, 2014 | | By Matt DiLallo
    Motley Fool: The World Has 53.3 Years of Oil Left By Matt DiLallo | More Articles |  June 22, 2014 |   Photo credit: BP. BP (NYSE: BP  )  has provided an intriguing update to its global oil reserves estimate in the company's latest yearly review of energy statistics. BP raised its reserve estimate by 1.1% to 1,687.9 billion barrels, which is enough oil to last the world 53.3 years at the current production rates. However, there's likely a lot more oil left in the tank beyond what BP sees today. America's energy boom surgesA good portion of the growth in global oil reserves in BP's report comes from the...
  • Texas oil production set to top No. 2 OPEC country

    07/02/2014 4:29:55 AM PDT · by thackney · 16 replies
    Fuel Fix ^ | July 1, 2014 | Simone Sebastian
    exas now is pumping 36 percent of the nation’s oil, more than doubling its production in three years, according to new federal data. The Energy Information Administration reports that Texas oil production topped 3 million barrels per day in April, for the first time since the late 1970s. Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at about 3.2 million barrels per day, according to Bloomberg. The news agency estimates that Iraq’s production fell to 2.9 million barrels in June amid insurgent violence. That would drop it below Texas...
  • Pipeline progress, Midstream companies make ‘remarkable’ strides in North Dakota

    07/01/2014 6:02:02 AM PDT · by thackney · 17 replies
    Petroleum News Bakken ^ | Week of June 29, 201 | MAXINE HERR
    North Dakota Gov. Jack Dalrymple is full of gratitude for pipeline infrastructure investments after tasking midstream companies two years ago to build pipelines, and build them quickly. Dalrymple hosted his second Governor’s Pipeline Summit in Bismarck on June 24, bringing together about 150 pipeline industry leaders, energy industry representatives and federal, state and local officials to share their response to the rapid construction of thousands of miles of pipelines to meet oil and gas industry demands. “There was a time a few years ago when we said we’re never going to have enough pipelines to deal with this boom,” Dalrymple...
  • Rising costs eat into returns even with high oil prices, IHS says

    07/01/2014 5:26:19 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | June 30, 2014 | Collin Eaton
    Oil producers are making less for the capital they’re spending than they did a decade ago, when U.S. benchmark crude prices were below $30 a barrel, a new report concludes. A study of more than 80 oil companies showed they made an average 8.6 percent in returns on average capital employed last year, and 11 percent in 2012 — both lower than exploration-and-production returns in 2001, according to a report released Friday by IHS. The price of West Texas Intermediate crude climbed from $27 a barrel in 2001 to $98 a barrel last year. “My guess is that shareholders are...
  • North Dakota and Texas now provide nearly half of U.S. crude oil production

    07/01/2014 5:17:50 AM PDT · by thackney · 8 replies
    Energy Information Administration ^ | 7/1/2014 | Energy Information Administration
    U.S. crude production in April 2014 was 8.4 million barrels per day (bbl/d), with two states, Texas and North Dakota, accounting for nearly half of this total. Texas production topped 3.0 million bbl/d for the first time since the late 1970s, more than doubling production in the past three years, and North Dakota production broke 1.0 million bbl/d for the first time in history, nearly tripling its production over the same period, according to data from the U.S. Energy Information Administration's Petroleum Supply Monthly report. Combined crude oil production volumes from Texas and North Dakota reached 4.0 million bbl/d. From...
  • The Real Significance Behind That Oil Export Hoopla

    06/30/2014 4:50:49 PM PDT · by ckilmer · 25 replies
    forbes ^ | 6/30/2014 @ 7:35PM | Christopher Helman
    There was a lot of hoopla last week over the news that the U.S. Department of Commerce had seemingly loosened rules governing the export of condensate — light weight hydrocarbons recovered from oil and gas wells. The excitement was palpable; shares in in oil refiners sold off. Was this the start of the big policy shift that oil producers have been dreaming of? An end to the 40-year oil export ban?
  • Worker Safety Remains the First Priority for Oil, Gas Companies

    06/30/2014 1:00:14 PM PDT · by thackney · 18 replies
    Rig Zone ^ | June 30, 2014 | Gene Lockard
    Safety is first among every oil and gas company. Regardless of whether an employee works in the field, on a rig, or in a high-rise office, they will be reminded time and time again just how important the safety of every employee is to the company, and to the industry. But as more young workers are hired into the industry, the issue has taken on an increased importance. Younger workers differ from older ones by having fewer fatalities, but more total injuries and more serious injuries, according to safety and injury incident research from the Center for Disease Control and...
  • North Dakota aims to double pipeline capacity; Enterprise helps

    06/30/2014 6:06:57 AM PDT · by thackney · 5 replies
    Reuters ^ | Jun 24, 2014 | ERNEST SCHEYDER
    North Dakota intends to nearly double its oil and gas pipeline capacity within two years as part of a plan to curb the wasteful flaring of natural gas in the bustling Bakken oil field, the state's governor said on Tuesday. Oil production in North Dakota has more than tripled in the past decade to 1 million barrels of oil equivalent (boepd) per day, making for the fastest-growing U.S. state economy. But state pipeline capacity has lagged. Governor Jack Dalrymple said the state wants to boost capacity to 1.4 million boepd by 2016 from about 780,000 boepd now. "We will reduce...